Rey Nieto signs $8.3M refi with Dime Community Bank for two rentals in Astoria

Rey J. Nieto through the entity 35-15 34th St Realty LLC as borrower signed a refi loan with lender Dime Community Bank valued at $8.3 million for two rentals including the 60-unit rental (C7) at 35-01 34th Street in Astoria, Queens and 60-unit rental (C7) at 35-15 34th Street in Astoria, Queens.
The deal closed on August 9, 2021 and was recorded on September 16, 2021.
The two properties have 43,200 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $191 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Rey J. Nieto was Rey J. Nieto.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $138,000. One of the projects were to change the building from a COM to a R-2and change the number of residential units from 60 to 61.
The owner according to the Department of Housing Preservation and Development is Rey Nieto, head officer. The business entity is 35-15 34th Street Realty Llc.

Within a 400-foot radius of 35-01 34th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.

One of those two items was a loan which A&E Real Estate Holdings borrowed $9 million from Signature Bank secured by the 50,232-square-foot, 70-unit rental (D1) on 35-16 34th Street on February 26, 2021.

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